Payments News

On The Web

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Global

Japan to promote e-payment with subsidies and tax breaks

“Japan lags behind such countries as South Korea, China and the U.S. in embracing cashless payment, frustrating many visitors from abroad. It seeks to make cashless options widely available ahead of the 2020 Tokyo Olympics. The government intends to draw up a plan by year-end to standardize payment methods using QR codes. Businesses that provide settlement infrastructure in line with […]
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Companies

Amazon And SoftBank Vie To Take Japan Cashless

“The platforms offered by the U.S. online retail giant and the Japanese tech and investment powerhouse will require minimal investment by merchants. That approach is friendly to smaller businesses — a group that is estimated to account for about 90% of Japan’s shops — for whom obtaining specialized equipment is a heavy burden. Through local arm Amazon Japan, […]
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Global

QR Code Payment Specs in Japan Could Be Unified by Summer

“The Payments Japan Association, a council on promoting cashless payments that includes representatives from the Economy, Trade and Industry Ministry and the finance and information technology sectors, has announced standardized specifications. The specifications are being called “JPQR.” Currently, the multiple competing specifications have forced retailers to take time and make efforts. Standardized specifications will support […]
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Global

Mizuho to launch digital currency to promote cashless payments in March

“Japan’s Mizuho Financial Group plans to introduce a proprietary digital currency that can be used for shopping and remitted at no cost, starting next March. Under the plan, retail shops using the currency will be charged fees significantly lower than for credit card services. The banking group aims to promote cashless payments by bringing about 60 regional […]

On The Wires

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Companies

Paidy Announces Strategic Investment from Visa

“Today, Paidy Inc. (“Paidy”), an instantly-issued post-pay credit provider, announced an investment from Visa (NYSE:V) as part of the company’s Series C funding. Paidy is Japan’s first instantly-issued post-pay credit service for ecommerce consumers. In addition, the two companies are partnering on new digital payment experiences that will give Japanese consumers more options when buying […]
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Companies

InComm Japan to Become Alipay Payment Processing Partner

“InComm Japan, a subsidiary of InComm, today announced it will become a payment processing partner for Alipay (支付宝). With this agreement, InComm adds Alipay to the services it offers to merchants. InComm plans to further expand its payment processing portfolio both domestically and overseas”
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Companies

Visa Sets Sights on a “Cashless Japan” With One Year to Go to the Olympic Games Tokyo 2020

“With one year to go until the Olympic Games Tokyo 2020, Visa, the Worldwide Payment Technology Partner of the Olympic Games, is preparing innovative payment experiences for athletes, visitors and citizens in support of the government’s “Cashless Japan” imperative to double the total of payments made digitally to 40 percent by 2025. With the Olympic Games Tokyo […]
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Companies

Alipay Seeks Japanese Partners to Strengthen Cashless Experience across the Country for Tourists before 2020

“Alipay, the world’s leading mobile and online payment platform operated by Ant Financial Services Group (“Ant Financial”), today announced that it will collaborate with a wider range of local Japanese partners to build a cashless environment for tourists coming to Japan, in particular for the Tokyo Olympic Games in 2020. This will allow the large […]